Bakassi Deep Seaport
Bakassi Deep Seaport is a port project by the Cross River State Government, within Nigeria. The port is a public-private partnership for the export of agricultural products and reduction of the congestion of other Nigerian ports.[1] The project is proposed to include a 217-kilometer superhighway.[2]
History
[edit]The Bakassi Deep Seaport project was initiated in 2014 and its Environmental and Social Impact Assessment (ESIA) was developed in by March 2015. It went on to get approval from Infrastructure Concession Regulatory Commission and the Federal Ministry of Transportation.[3]
In December 2024, state government inaugurated the hydrographic, geophysical, and geotechnical survey for the proposed for the project by the National Hydrographic Services Agency.[4]
In February 2025, the Cross River State Government formalized an agreement with UAE-based ARISE Integrated Industrial Platform granting the firm an 80% stake in the Bakassi Deep Seaport project.[5] Other stakeholders of the project includes the Nigerian Ports Authority, the Nigerian Navy, the Nigeria Customs Service, the Ministry of Marine and Blue Economy, and the Nigerian Shippers' Council.[6]
Funding
[edit]In May 2024, the Cross River State Government secured $3.5bn from Afreximbank for the project.[7]
References
[edit]- ^ Dan-Awoh, Deborah (2024-09-23). "$3.5 billion Bakassi Deep Seaport construction to begin soon- ICRC Confirms". Nairametrics. Retrieved 2025-02-18.
- ^ Anagor-Ewuzie, Amaka (2024-09-25). "FG endorses $3.5bn Bakassi Deep Seaport". Businessday NG. Retrieved 2025-02-18.
- ^ Obiowo, Caleb (2024-05-15). "Cross River State secures $3.5 billion from Afreximbank for Bakassi Deep Seaport Project". Nairametrics. Retrieved 2025-02-18.
- ^ "Cross River gov unveils survey for Bakassi Deep Seaport project – Punch Newspapers". 21 December 2024. Retrieved 2025-02-18.
- ^ https://guardian.ng/news/cross-river-strikes-deal-with-uae-firm-for-bakassi-deep-seaport/, https://punchng.com/cross-river-uae-firm-sign-agreement-on-bakassi-deep-seaport/
- ^ Abang, Mike (2024-09-21). "Govt, stakeholders okay $3.5bn Afrexim Bank-funded Bakassi deep seaport". Businessday NG. Retrieved 2025-02-18.
- ^ Meshioye, David (2024-05-15). "Otu secures $3.5b funding for Bakassi deep seaport". The Guardian Nigeria News - Nigeria and World News. Retrieved 2025-02-18.
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